Petronas: Licensing system policy remains
There is no policy change on licensing system for companies engaged in Malaysia’s upstream oil and gas industry, Petroliam Nasional said. Under the Petroleum Regulations 1974, companies wishing to commence or continue any business or services related to Malaysia’s oil and gas upstream operations and activities must apply for a licence from Petronas. (StarBizWeek)
AirAsia sells planes to affiliate
Budget airline AirAsia is selling five Airbus A320 units to its affiliate, PT Indonesia AirAsia, via a series of finance lease transactions, in order to comply with Indonesian airlines’ regulations. The total consideration for the transfer of the five aircraft was RM550.85m and is expected to result in a gain of RM49.7m for AirAsia and increase its net earnings per share by RM0.02 for the financial year ending 31 Dec 2011. (StarBizWeek)
Zelan gets offer letter from Mudajaya
Zelan has received a letter of intent from Mudajaya Corp, a member of the consortium comprising Alstom, Mudajaya and Eversendai Corp, to subcontract a portion of the civil works to Zelan with a total value not exceeding RM300m. (StarBizWeek)
EMS Malaysia not linked to Pos Malaysia
Pos Malaysia has clarified that a company known as EMS Malaysia is not affiliated to or linked with it or any of its business units, departments and subsidiaries. It did not assign any business operating rights to EMS Malaysia to operate any postal services despite the latter’s reference to Pos Malaysia’s former call centre address in its website as its customer service address. (StarBizWeek)
KNM and Zecon yet to finalize complex deal
KNM Group and Zecon have not achieved a financial close with Gulf Asian Petroleum SB for a RM17.3bn integrated petro-chemical complex in Telum Ramunia, Johor. Both KNM and Zecon told Bursa Malaysia that all parties to the preliminary deals struck in July would continue to pursue the finalization of the agreement and financing for the project. (StarBizWeek)
Media Prima, Puncak Semangat in early talks
Media Prima is in preliminary talks with privately-held Puncak Semangat SB (PSSB), which is looking at converting all analog televisions into digital ones by 2015. PSSB, owned by tycoon Tan Sri Syed Mokhtar Al-Bukhary, has been bidding for the conversion job from the Government for the last three years. (BT)
Pintaras wins job
Pintaras Jaya has won a RM30m deal from Lumayan Indah SB to undertake sub-structure works, including temporary retaining structures, piling and pile caps for a service apartment at Jln Conlay, KL. (BT)
Melati Ehsan unveils RM300m Bukit Bayu project in Shah Alam
Melati Ehsan Holdings on Saturday launched its 24ha bungalow development named Bukit Bayu@U10 Shah Alam in Section U10 with a gross development value of RM300m. Melati Group MD Tan Sri Yap Suan Chee told a press conference on Saturday that the project comprises 133 bungalow units, with 65 units to be developed in the first phase and another 68 units in the second phase. (Malaysian Reserve)
Genting Malaysia: Sees RM2.5b in 2012 sales from New York Aqueduct slots. The casino opened last Friday at New Yorks Aqueduct racetrack is expected to generate USD800m (RM2.45b) in revenue next year. The 190,000 sq ft floor has 205 electronic table games and 2,280 video lottery terminals. (Source: The Malaysian Reserve)
Bintulu Port: Plans to raise RM3b for Samalaju port. Bintulu Port Holdings Bhd is looking at government loans and the bond market to raise up to RM3b for the construction of the Samalaju port to support energy-intensive industries in the area. The port is part of the Sarawak Corridor of Renewable Energy (SCORE) and will be crucial to transport raw materials and finished goods in the Samalaju Industrial Park. (Source: The Edge Weekly)
Malayan Flour Mills: Readies itself for Indonesia. Malayan Flour Mills Bhd (MFM) and its partners will invest a total of USD66m (RM204.6m) to establish a flour mill in Jakarta, with construction to start next year and operations to begin in 2013. The mill is expected to have a flour production capacity of 1,500 tonnes per day. (Source: The Edge Weekly)
HDD: Seagate benefit for JCY and Dufu. Component makers, which supply mainly to Seagate Technology plc, could well take pole position in the hard-disk drive (HDD) industry after rival Western Digital Corp was beaten out by the flooding in Thailand. (Source: The Edge Daily)
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